XCN token soars 35% in 24 hours to lead top gainers

XCN Crypto rallied almost 36% during the last day in the middle of the exchange lists and overhauling around the launch of future products.

The onyxcoin token (Xcn) climbed to an intra-day summit of $ 0.0394, pushing its market capitalization to more than $ 1.16 billion from the last check Thursday afternoon, the Asian hour.

Today’s rally has extended the weekly gains from Altcoin to more than 195%, while its monthly earnings exceeded 1,400%, making it one of the best -efficient cryptographic active ingredients In the last 30 days.

The XCN rally was accompanied by an increase in demand and commercial activity. In the past 24 hours, the daily negotiation volume of Altcoin jumped from 60% to more than $ 627 million, while the open interest in its long -term market has climbed 73% to a 38 summit, $ 98 million per quince.

Why does XCN go up?

XCN jumped after onyx tackle His next white paper and the launch of his new blockchain, the big Onyx XCN book. Cryptographic active ingredients generally tend to reach major announcements that support the growth of the ecosystem.

In addition, the token was recently listed On Kraken Pro, allowing users to exchange XCN with a lever effect up to 20x.

In addition, the official onyx account common That it had been nominated for the list on Binance Next Pool, which allows users to predict which tokens will then be listed on the Binance’s Undeakian Market.

Crypto Exchange Ascendex also has announcement plans to list XCN, which has further strengthened the bullish momentum.

The demand of investors for XCN also increased after the XCN community pass OIP-52 after having settled Long -standing problems With HTX Global and the founder of Tron Justin Sun. The proposal that has not yet been deployed will see Sun and HTX will play an active role in ONYX DAO governance.

“This OIP will improve the Onyx protocol thanks to the expertise, experience and credibility that Justin Sun and HTX provide their participation in the DAO,” said part of the proposal.

XCN technical analysis

On the daily graphic, the XCN price has become parabolic and is positioned above the mobile averages of 50 and 200 days, which means that the purchase pressure is always up. As a rule, when the 50 -day MA is also greater than the 200 -day MA, the assets tend to continue their rally in the coming days.

The MacD lines point upwards, while the Superrend line remains below the price of the asset, the two sign that the trend raised remains strong. While the Chaikin monetary flow index has remained positive suggesting a continuous influx of capital on the XCN market.

However, the relative force index of the token has hovered in the excessive area above 70 since January 15, which increases the probability of a potential withdrawal or consolidation if the purchase of Momentum begins to decline.

Based on the current dynamics, the XCN bulls could probably target the psychological resistance at $ 0.04 afterwards and subsequently resist the resistance of $ 0.047, which he failed to rape earlier this week.